Philippines finance secretary urges BIR and BoC to embrace digitization
Benjamin Diokno allayed the fears of citizens by stating that there would be no increase in taxes. Rather the agencies would only pursue effective tax models.
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Philippines central bank embarks on wholesale CBDC pilot project
Central bank governor Benjamin Diokno said the wholesale CBDC may help the country address financial system problems like issues in large cross-border transfers, commercial bank money, and more.
Philippines central bank warns vs play-to-earn games after $625M Axie Infinity heist
The Bangko Sentral ng Pilipinas issued the warning at a time when the Philippines has become a global leader in play-to-earn games, making 40% of Axie users.
Philippines to launch CBDC research, but rollout remains unclear
The Bangko Sentral ng Pilipinas is set to move forward with a research project on a national digital currency, called "Project CBDC-Ph," although the central bank says it doesn’t see a need for digital peso.
Philippines unlikely to issue CBDC in the near future: report
The Philippines will not be one of the rising numbers of countries that intend to issue a central bank digital currency despite touting a wholesale state bank-backed digital currency previously.